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Schwartz Banking Terms
Terms to review for test.
A way to take care of your banking needs 24 hours a day.
The process of making your records agree with the bank statement.
This is a record of canceled checks, deposits, ATM withdrawals, service charges, and interest.
This type of endorsement requires only a signature.
A check that has been paid by the bank.
The right to request your money when you want or need it.
Two or more people who have access to an account.
Only one person has access to an account.
Checks that have not been received by the bank.
This type of endorsement requires that the check be deposited only as endorsed.
Bank uses this as a comparison tool that you are the person who is writing or cashing a check.
Signing over a check to someone else.
1 1/2 inch
Endorsements are to be written within this amount of space.
What you should do when you want money back on a deposit slip.
You can cash a check if your name is spelled wrong on the "Pay to" line. True or False?
A Restrictive endorsement is the safest type of endorsement. True or False?
Maintaining a checking account correctly can help you establish what?
What you should write on the check if there is a mistake.
What the bank goes by if the numerical and written numbers are different.
You should fill this out first before writing the check.
When writing dollar amounts like 25 or 47 this separates the words.
Some reasons why people have a checking account are it is safe, convenient, proof of payment, record of expenses, and to establish credit.